A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 105 - Supplies in satisfaction of debts  

105-10   Net amounts  

(1)  
If you are not * registered or * required to be registered , you do not have a * net amount under Part 2-4 merely because you make a * taxable supply under section 105-5 .

(2)  
This section does not prevent an * adjustment arising that relates to such a supply, but you cannot have a * decreasing adjustment unless you are * registered or * required to be registered .

(3)  
This section has effect despite Division 17 (which is about net amounts and adjustments).




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.